Global Agricultural Micronutrients Market: Share, Size, Growth, Opportunities, and Forecast 2022-2028

 

A balanced crop diet depends heavily on agricultural micronutrients, which are beneficial for plant growth. These consist of chloride, manganese, nickel, boron, copper, molybdenum, zinc, and manganese. Even when sufficient nutrients are present in sufficient amounts, the absence of any one of these micronutrients in the soil can hinder plant growth.

Due to their widespread use, reduced labor requirements, and short implementation times, soil application dominated the global Agricultural Micronutrients Market. Additionally, micronutrients are extremely effective because they come into direct contact with the roots when added to the soil, which leads to high productivity and yield. Due to the numerous benefits foliar sprays provide, foliar is anticipated to spur the growth of the global agricultural micronutrient market during the forecast period.

India's Agricultural Micronutrients Market sector is becoming more aware of the importance of crop nutrition, which is encouraging this market's growth. In the upcoming years, it is anticipated that the adoption of micronutrients to enhance crop health and yield will be boosted by the expanding population, the development of cutting-edge technologies, and government initiatives.

The pandemic has had a sizable effect on the agricultural micronutrient market in India. The Indian agrarian input supply chain, which includes the supply of micronutrients, has been hampered by the COVID-19 pandemic. A severe labor shortage, restrictions on interstate travel, and exports were a few of the unanticipated difficulties that the stakeholders in the value chain experienced.

The major contributors to the loss of micronutrients in soil were intensive farming and changes in the environment, such as an increase in global warming. As a result, crop losses have resulted from crop cultivation in soils with insufficient levels of micronutrients. The Indian consumer's preference has changed toward healthy foods in an effort to maintain and improve health. Agricultural Micronutrients Market has made the sustainable production of agricultural crops in India difficult. The Indian agriculture sector's demand for micronutrients is primarily driven by the rise in demand for high-value crops like nutrient-dense fruits and vegetables. Additionally, the market for agricultural micronutrients is expanding as more people become aware of the link between healthy crops and increased yield.

Key Players

The Dow Chemical Company, BASF SE, The Mosaic Company, Akzo Nobel N.V., Yara International ASA, The Potash Corporation, Land O'Lakes, Inc., Marubeni Corporation, and Nufarm Limited are some of the major companies competing in the global agricultural micronutrients market.